US spending tens of millions of dollars maintaining seized $230m yacht linked to sanctioned Russian oligarch

https://www.yahoo.com/news/u-spending-tens-millions-dollars-010642054.html

46 comments

  1. I’ve already submitted a request to the U.S. government to have the yacht turned over to me, so don’t even try it reddit.

  2. Just sink the fucking thing as an artificial reef and livestream it.

  4. How does that compare to the tax cuts and deals that musk is going to get?

  5. Do they think they’ll get a return on this “investment”?

  6. Probably ultimately saving this guy money.

    Kinda like the story of the guy giving his Ferrari or whatever as collateral for a $5000 loan. Interesting of a few bucks and saying how else can I pay 50 dollars for parking for 2 weeks. Probably not real but you get the idea

  7. Trump will give back to them is a few months — in better condition than when it was seized.

  8. March article from CNBC

    The monthly charges for Amadea, which is now docked in San Diego, California, include $600,000 per month in running costs: $360,000 for the crew; $75,000 for fuel; and $165,000 for maintenance, waste removal, food and other expenses. They also include $144,000 in monthly pro-rata insurance costs and special charges including dry-docking fees, at $178,000, bringing the total to $922,000, according to the filings.

    360k per month for crew? And the boat goes nowhere? Lol

  9. Why is this ship crewed? Tie it to the dock, and let it rot. This should not have to be returned in better shape than it was confiscated. If the criminal owner takes issue with the state of his yacht, he should have kept it out of US hands.

  10. I remember reading somewhere that for most yachts, operational costs are approximately 10% of the purchase price which weirdly trends as more expensive ships have more complicated systems which necessitate maintenance

  11. So if i can hand over my house to a Russian oligarch then the government will cover the mortgage and property taxes?

  12. The best day of your life is the day you seize a Russian oligarch’s yacht. The 2nd best day of your life is when you finally get rid of said Russian oligarch’s yacht.

  14. It’s probably in some weird legal limbo like all the Russian ETFs

  15. Why is there waste, fuel and food charges on a seized boat? Are they taking it for a spin and having boat parties on there?

    But yeah seize it, then sell it for profit. This is stupid.

  16. They’ll keep it and use it for random DEA sting operations … by which I mean the directors will bang their mistresses there.

  18. Sell it and send the money to Ukraine. Or use it for target practice.

  20. If my car gets seized by the bank, they park it in a giant open-air lot and don’t care what happens to rain down upon it inside their lot. Let it float until it doesn’t.

  22. give it to Ukraine…airbnb it and buy ammo for Ukraine…let Ukrainian refugees living on it, film and publicize it

  24. Why the fuck have these assets not been sold off. Good example of bureaucracy at its finest.

  25. They should auction them all off, the Russian oligarchs should feel the pain…

  26. I’ll take it off their hands for $2000. That’s a pretty good deal, they’ll be saving millions!

  27. Slap a Ukrainian flag on it, load it with azov soldiers, equip with a couple HIMARS and send it back.

  28. If only some smart redditor had suggested a solution to this problem two years ago…

    >Leveraging Seized Russian Assets for Ukraine💙💛

    >Paying forward twofold, having the cake and eating it too

    >Some governments have already begun promising to sell these confiscated assets and give the proceeds to Ukraine, to fund their defense and reconstruction efforts. Although the liquid assets can easily be sold on the market or outright transferred to Ukraine, those illiquid assets pose a problem. They need to be maintained. You can’t just park a plane or yacht and forget about it. For instance, a general rule of thumb for a yacht is that the owner should expect to spend around 10% of the yacht’s value per year just to maintain and run it. So if you have a $100M yacht, you will spend roughly $10M per year just to maintain it. For Western governments, the incentive will be to sell these assets as soon as possible, at any price point.

    >So why don’t we just buy it ourselves? Why don’t we commercialize these assets ourselves and give the profits to Ukraine? The fact that there are jet rental, luxury car rental or yacht rental businesses out there is enough evidence to show that it could work.

    https://www.reddit.com/r/UkrainianConflict/s/R91mU2K0Tv

  31. Who are they saving it for, looks like a brand new reef to me.

  32. Bill the owner and when the bill eclipses the value of the yacht public auction it

  33. Let’s clean it, sink it, and make it an artificial reef. The fish will love it.

  34. Sell it or turn it into a reef. Send the maintenance bill to the oligarch regardless or confiscate funds.

  42. Can’t they just sell it? I suppose the possible buyers include too many other nefarious Oligarchs. Not many upstanding citizens can afford such a thing.

  43. Turn them into temporary housing, particularly for LGBTQ and People of Color. Just to really twist the knife of Russian oligarchs.

    Or just sink them as artificial reefs.

  44. why are they maintaining them? If the government seized your car they don’t maintain it. they just leave it to gather dust in a lot why they charge you storage fees.

  45. If the boat is sitting why is it burning fuel?

    It should be hooked up to shore power, so no need for a generator needing to run all the time.

    It should have minimal systems running, just enough to keep it afloat.

    I hope the desalination system and jacuzzi isn’t being left on or hell even filled up.

    This all seems like it costs this much because they are operating it like it’s out at sea or has guests on it.

  46. Why don’t we MAKE millions of dollars Airbnbing it out?

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